Salesforce (CRM) shares rose 4% in extended trading on Wednesday after the cloud software giant offered up guidance for the next quarter and fiscal 2026 that were above Wall Street’s forecast.
Looking to the fiscal fourth-quarter, the Marc Benioff-led company now expects revenue to be between $11.13B and $11.23B, with the midpoint above the $10.91B estimate. Adjusted earnings are forecast to be between $3.02 and $3.04 per share, in-line with the $3.03 per share estimate. Current remaining performance obligations are expected to grow 15% year-over-year, Salesforce added.
In addition, Salesforce upped its forecast for fiscal 2026, as it now sees revenue between $41.145B and $41.55B, above its previous range of $41.1B and $41.3B, and above the $41.25B analyst estimate. Salesforce also now expects to earn between $11.75 and $11.77 per share on an adjusted basis, above its previous forecast of $11.33 to $11.37 per share. Analysts were expecting $11.37 per share in adjusted earnings.
The stronger-than-expected guidance comes as Salesforce reported mixed fiscal third-quarter results. For the period ending Oct. 31, Salesforce earned an adjusted $3.25 per share as revenue rose 8.6% year-over-year to $10.26B. Included in that was a 9.5% jump from subscription and support revenue to $9.73B, aided in part by Agentforce and Data 360. Salesforce also said that professional services and other revenue was $533M during the quarter, a decline of 5.7% year-over-year.
Analysts expected the company to earn $2.86 per share on an adjusted basis, with $10.28B in revenue.
Remaining performance obligations rose 12% year-over-year to $59.5N, while current remaining performance obligation came in at $29.4B, up 11% year-over-year.
“Our Agentforce and Data 360 products are the momentum drivers, hitting nearly $1.4 billion in ARR—an explosive 114% year-over-year gain,” Benioff said in a statement. “We now have over 9,500 paid Agentforce deals and 3.2 trillion tokens processed, underscoring our leadership in building the Agentic Enterprise and driving real outcomes.”
The company will host a conference call at 5 p.m. EST to discuss the results.